MONACO -GasLog Ltd. ("GasLog" or "the Company") an international owner, operator and manager of liquefied natural gas ("LNG") carriers, announced the order of a newbuild 180,000 cubic meter Flex Plus vessel with XDF propulsion from Samsung Heavy Industries ("Samsung").

The newbuild vessel, Hull No. 2274, is scheduled to deliver in the second quarter of 2020 and is currently unchartered. The Company has also agreed options with Samsung for additional newbuild vessels.

Paul Wogan, Chief Executive Officer of GasLog, commented, "Given that the outlook for LNG shipping demand remains robust, and with increasing evidence that newbuild prices are starting to rise, we have moved to lock in a very attractive price for our second newbuild order in 2018. We remain confident that the unit freight cost advantage offered by the latest generation vessels will make this ship highly attractive to customers looking for the most competitive solution to their LNG shipping requirements."

The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.